Invidi will continue to operate independently under the collective ownership and each company will have directors on its board. AT&T will have the controlling interest.

With its technology, ads are delivered to target households that can be matched to thousands of demographic or psychographic attributes, or to a custom list provided by a client. This allows advertisers and media buyers to accurately control reach, separation and frequency across video platforms.

Rick Welday, president, AT&T AdWorks, said: “Invidi gives us a great opportunity to expand our addressable advertising capabilities. We have significantly increased revenue with targeted advertising across multiple platforms. This deal will help us accelerate growth in our addressable advertising business and explore innovation and expansion into new platforms.”

Dave Downey, Invidi’s CEO, said: “Maintaining our independence and deepening our existing relationships with AT&T, Dish and WPP is a big move for our company and our people. Our ability to increase the value of ad inventory is transforming the way video advertising is purchased and distributed.”